Focus

On April 18, the groundbreaking ceremony for the Goldwind 500,000-ton Wind-powered Green Methanol Production Project was held in Xing'an League, Inner Mongolia. This event marks the formal commencement of the world's largest wind-powered hydrogen production and green methanol new energy project. The ceremony saw the attendance of esteemed guests from government and business sectors alike. Notable attendees included Zhang Xiaobing, Secretary of the Xing'an League Committee, Su He, Deputy Secretary of the Xing'an League Committee, Liu Shucheng, Chairman of the Xing'an League Political Consultative Conference, Cao Zhigang, President of Goldwind, and Karim Fahssis, Decarbonization Business Director at Maersk China.

The global shipping industry has recently shifted its focus towards "green shipping", with green methanol emerging as a key component in this initiative. In terms of production and usage, green methanol significantly reduces carbon emissions and can act as a direct, clean fuel. Additionally, it serves as a hydrogen carrier solution, tackling the challenges associated with hydrogen storage and transportation. According to Alternative Fuels Insight (AFI) under Det Norske Veritas (DNV), as of January 2024, orders for methanol-fueled ships reached 23, surpassing the 10 orders for LNG-powered vessels. COSCO Shipping predicts that by 2030, the shipping industry's demand for green methanol will hit 100 million tons, a capacity far beyond current global production capabilities. Against this context, Goldwind is leveraging its expertise in renewable energy to proactively expand its green methanol production capacity through collaboration with industry partners. In November 2023, Goldwind signed a long-term agreement with A.P. Moller-Maersk, a leading international shipping company, to supply 500,000 tons of green methanol annually. This deal underpins the low-carbon operations of Maersk's first 12 large dual-fuel vessels powered by methanol, with the initial production expected in 2026. This agreement represents the shipping industry's first large-scale procurement of green methanol, with its validity extending well beyond 2030. The methanol production outlined in this agreement includes the creation of green methanol through the utilization of both biomass and electricity. This will be carried out at the Goldwind Wind-powered 500,000-ton Green Methanol Production Project located in Xing'an League. The project aims to create a "green loop," wherein green power generates green fuel, thereby supporting the development of green shipping.

Covering more than 1,800 acres, the project will feature an annual output of 500,000 tons of green methanol once operational, establishing itself as a cutting-edge, fully-equipped, and highly efficient modern green methanol production base. Su He, Deputy Secretary of the Xing'an League Committee, stated that the Xing'an League is committed to promoting new industrial development by leveraging renewable energy. The 500,000-ton green methanol project by Goldwind stands as a symbolic achievement in building a hub for green hydrogen-based ammonia and methanol synthesis in eastern Inner Mongolia. The project will accelerate the development of major projects across the league and infuse robust momentum into the high-quality economic and social development of the Xing'an League. It is hoped that Goldwind and other leading enterprises will continue to pay attention to the Xing'an League by investing and sharing in its development opportunities. Cao Zhigang, President of Goldwind, highlighted that the project is the world's first large-scale wind-powered green methanol project. It truly integrates renewable energy with green fuels, and blazing a trail for the generation of green fuels through the use of green power. The project also combines local economic growth with the long-term development of green industries, and resource strengths with emerging industries, thereby connecting agriculture, manufacturing, and transportation to foster multi-industry collaboration that yields considerable innovative value for green development across society. Xie Wenxuan, Decarbonization Business Development Manager at Maersk China, remarked that Xing'an League is rich in biomass resources, offering a vital source of green carbon for green fuels. Goldwind's wind power development in Xing'an League guarantees a massive supply of green power for the production of green fuel, thus completing the "green loop" of the project. Aiming to reach net-zero greenhouse gas emissions across all operations by 2040, Maersk's methanol procurement agreement with Goldwind will supply more than half of the fuel needed for Maersk's methanol-powered vessels, facilitating the green transformation within the transportation industry.

The Goldwind Wind-powered 500,000-ton Green Methanol Production Project in Xing'an League stands as a global benchmark for green fuels and low-carbon development. It marks a pivotal milestone in advancing the green transformation of the shipping industry and the chemical sector. The successful launch of the project has greatly promoted the transformation of the energy structure and reinforced the security and stability of energy supplies. Moreover, the project serves as a catalyst for industrial innovation, propelling the development of key technologies and markets along the "new energy-based hydrogen production+" industrial chain. It also significantly fosters economic diversification and the upgrading of agricultural industries in rural areas, while also enhancing the resilience and adaptability of the rural economy. Looking ahead, Goldwind intends to fully harness the abundant wind and biomass resources in Xing'an League, collaborates with the government and industry partners to facilitate more projects, and assists global partners in tackling the challenges of energy transformation.